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Victoria Insurance Summary
Victoria Insurance was founded in 1986 in Ohio, but quickly expanded to serve other states, writing non-standard auto insurance. In 2000, Victoria Insurance became a subsidiary of Prudential, and only three years later the company was purchased by Nationwide, making it part of one of the largest insurance groups in the country.
Today Victoria Insurance is licensed to do business in 39 states, and split into the following five companies:
- Victoria Fire & Casualty Company
- Victoria Automobile Insurance Company
- Victoria National Insurance Company
- Victoria Specialty Insurance Company
- Victoria Select Insurance Company
In 2014, Nationwide announced that it plans to re-brand all of its subsidiary companies, bringing them all under the parent company name. As of the time of this review, however, Victoria Insurance continues to operate under its original name.
Victoria Insurance products are aimed at drivers who do not qualify for standard insurance programs, and are sold exclusively through agents.
The company writes both personal and commercial coverage.
Victoria is exclusively a car insurance company, and they offer personal auto as well as commercial auto products.
Personal Auto Insurance
Victoria’s main product is personal auto insurance for drivers who do not qualify under most standard insurance programs. The reasons for this can include – poor driving record (tickets, accidents, and major violations), credit problems, or international driver’s license.
Personal auto is currently available in 27 of the 39 licensed states.
The Victoria website offers very little information about their insurance program, but as a non-standard insurance company it’s likely the policies are basic and do not offer a lot of extended features. This is common in non-standard insurance, as it tends to be expensive and most drivers seeking it are more concerned with meeting legal requirements affordably, rather than perks and gimmicks.
In keeping with that focus on being affordable, the website promises low down payments, flexible payment plans, and competitive rates. Of course, those rates would be considered competitive in the non-standard market where rates are generally higher than in the standard market.
A list of discounts are not available on the website, in addition to information about specific coverage. As a result of this lack of information, it’s hard to form any kind of opinion about their personal auto program in terms of coverage or value.
Commercial Auto Insurance
Victoria Insurance writes commercial auto in 15 states. Like personal auto, the commercial program is targeted at non-standard drivers.
There is slightly more information on the site regarding commercial auto. However, the information appears to be more focused towards potential agents considering selling Victoria products than towards potential customers. This could be because companies like Victoria tend to get much more business through agents than through customers coming across the website.
Along with the personal auto program, this program likely aims to provide very basic coverage in order to make the program affordable.
Victoria Insurance does not utilize an online quoting option, so we were unable to obtain a quote. Since they aim their products at the non-standard market, our usual sample would not be the most common type of customer for Victoria.
Non-standard auto is usually more costly than a standard policy, and as a result Victoria would really only be competing with other non-standard companies in terms of rates. For drivers who require this type of coverage, options for insurance are often limited, which means they may not have the luxury of true comparison shopping.
Claims are reported via Victoria’s 24-hour toll-free line 1-800-926-3168. The company offers a lot more information in terms of their claims procedures than they do regarding their products.
An adjuster is assigned within one business day of the reporting, and within 24 hours of assignment that adjuster will make contact with the insured and anyone who has been injured. Within the same business day that the adjuster is assigned, an auto appraiser will be assigned. During this same time period, the policy coverage will be verified.
All of this promises swift action on the part of the claims department to get things started.
The site continues to outline their promised response time and handling times for the various aspects and stages of the claims process. For example, adjusters are to check their voice mail every hour and to return phone calls within one hour of receiving a message. That’s a pretty strict rule that speaks to a real commitment to response times and communication.
When it comes to the settlement, the company promises a payment issued within 24 hours of the settlement being accepted, and two days for a claims denial to be communicated.
As a Nationwide company, Victoria Insurance no longer has an individual BBB record. Instead ratings and reviews, as well as complaints, are aggregated on the Nationwide BBB record; Nationwide has an A+ rating and 396 complaints in the past three years. Unfortunately, we are unable to state how many of those may have been directed at Victoria Insurance.
There are a few scattered reviews of Victoria Insurance, however, not anything to raise red flags over. The few available reflect a general consumer misunderstanding of insurance.
Because they are owned by Nationwide, it’s possible there are other reviews out there labelled with the Nationwide name, but nothing under the Victoria brand is a cause for concern.
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As a Nationwide company, Victoria has a very strong financial backing, and they also appear to have a good reputation. Their claims process is firmly established and clearly explained, with multiple deadlines in place to promise fast handling. Were were unable to find any evidence that suggests that the company does not follow through with their claims process.
Victoria Insurance is unlikely to b a good choice for anyone who qualifies for standard insurance, but they are well worth considering if you’re in the market for non-standard coverage.
For a list of companies that we recommend, visit our Best Insurance Companies page.